Active Member
Rafeh G Member Since: Feb 23, 2014
Hi All I need help with the LFT withdrawl as i am relativly new here. This was my first time so had to go through the verification process too. The bank used here is MCB. Anyways I setup my payments a few days back and following is the response i recieved Please be advised that we have been sent a request from the bank that more information is required to complete processing of your recent withdrawal. We need to obtain additional information regarding recent payment requests before it will be released for processing. Please provide the following per bank request: a. Reason for the transaction b. Business License or Business Registration Document c. Activity conducted by this business d. Any additional information that could help us identify this company and the reason for the remittance. As this is a mandatory request we require response within 24 hours to prevent account interruption and cancellation of your transaction. I answered the questions to the best of my knowledge but got the following response "The bank has required that you provide a business license or business registration document. Without this document, your payment will be returned to your account. Please provide this document." This might be a new case aswell i have a feeling it has something to do with State Bank or some new goverment policy. so anyone out there who went through the same process lately? So im looking forward for some help here.How to resolve the matter? all type of suggestions are welcomed. Thanks
Ace Contributor
Waqas T Member Since: Feb 7, 2011
This has nothing to do with the state bank, or its policy. It's the oDesk bank that requires this information. I see that you have created your own agency on oDesk and are working through it. This means that you can transfer the funds only to your agency account name. Is your account in MCB on your agency name? If not, then the funds will be sent back by MCB if oDesk bank releases them, because the name (your odesk agency name) will not match with your account name in MCB. Solution will be to get your agency registered in Pakistan, get an NTN number (https://e.fbr.gov.pk/AuthLogin), provide a scanned copy of the NTN to oDesk so it can send it to its bank, then open a bank account for the company in Pakistan, and then transfer the funds. Getting an NTN will take from 2 days to a month. I see this as the only way you can transfer the funds as you can only send agency money to an agency bank account, this is from what I have experienced.